(Reuters) -Restaurant Brands International topped market estimates for quarterly sales on Tuesday, driven by growing demand at its Burger King chain and steady traffic at Tim Hortons.
While Burger King had previously struggled to drive sales higher in the United States, the brand has doubled down on its turnaround efforts to draw more customers through improved marketing and new restaurant technology while also streamlining its menus and simplifying operations.
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Sales trends, as a result, have improved, driving a rebound in profitability at the chain, analysts have noted, adding the brand might even be ahead of plan in its turnaround.
Same-store sales at Burger King U.S. rose 8.3% in the reported quarter, with total comparable sales at the brand rising 10.2%.
Improving mobility in Canada has boosted sales at coffee chain Tim Hortons – with comparable sales jumping 12.5% in the quarter – while its breakfast sandwiches and bagels have also pulled more customers.
Total revenue at Restaurant Brands rose to $1.78 billion in the second quarter from $1.64 billion a year earlier. Analysts on average had expected revenue of $1.75 billion, according to Refinitiv data.
(Reporting by Deborah Sophia in Bengaluru; Editing by Krishna Chandra Eluri)
By: OAN
